if you are unable to pay vehicle loan let bank take over vehicle and auction it .
as far as credit card loan is concerned ask for rescheduling installments
Unable to pay loan
sir, i have taken credit card & vehicle loan from icici & hdfc bank and i am unable to pay the loan. bank are threatening me in terms of legal notice & police cases. sir presently my condition is very bad & i am not in position to pay the loan. please help me what should i do.
Asked 10 years ago in Civil Law
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3 Answers
sir please help me regarding this
Asked 10 years ago
1. Bank may take possession of vehicle and auction it at a throwaway price to recover the amount of loan along with interest. This cannot be successfully preempted.
3. For credit car you may request the bank to reschedule amount in easy installments.
if you are unable to pay vehicle loan let bank take over vehicle and auction it .
